Saw this article on http://www.INRnews.com. Looks like buying a place in Hyd is to cost quite a bit more!!

Hyderabad real estate prices soar as land auction fetches Rs. 700 croreThe Hyderabad Urban Development Authority (HUDA) has realised Rs. 703 crore from the sale of 69 acres of land in the town of Kokapet, 20km from the city. The 15 plots sold in the Golden Mile layout are in a good location next to the Outer Ring road and close to the Financial district and IT hub in Gacchibowli.

See full article at INRnews.com below -http://www.inrnews.com/indianrealestate/2006/07/hyderabad_real_estate_prices_s.html

The topic should read:
Hyderabad realty prices 'Sore'
as in 'Ouch, it hurts!'

I am worried that the common citizens who are investing heavily in Real estate don't realize that this bubble will burst because the authorities are not paying proper attention to Infrastructure and planning and are compromising occupants' safety through lax building inspections.

The reason the prices are high is there is a 'property mafia' in Hyderabad that buy up majority of the plots/houses/apartments as soon as they have been started to built, thereby creating an artificial demand. The result is abnormally high rents and scarcity. In the mad rush for money, HUDA and other agencies are auctioning off land right and left without doing their proper homework or infrastructure development. Which means in the future you could be living in an expensive home that could either 'sink', be flooded or collapse altogether, not to mention your water supply could be little to none., or your very 'ownership' could be in question!

Now tell me citizens when are you going to wake up and oppose this mindless 'development'.

CITIZENS MUST TAKE ACTION FOR MORE STRINGENT IMPLEMENTATION OF BUILDING NORMS AND SAFTEY REGULATIONS. BUILDERS SHOULD NOT BE ALLOWED TO SELL ANY PROPERTY UNTIL A 'CERTFICATE OF OCCUPATION' (OR NOC) IS FULLY ENDORSED. BUYERS SHOULD REFUSE TO BUY/PAY IN FULL FOR ANY FLAT/HOUSE UNTIL ALL HAZARDOUS CONSTRUCTION HAS CEASED AND THE PROPERTY IS FIT FOR HUMAN HABITATION.

With ample space around, the Govt. should first clear all localities of the unhygieninc 'jhopris' that are springing up everywhere, through 'green'
housing initiative schemes for the poor. Builders should bear the responsibility for providing adequate sanitation facilities for their workers on site instead of letting them use private and public property to do their 'business'.

The Government must preserve larger tracts of 'green land' and do some more thinking on how the plots are laid out and how much empty space every builder needs to provide. It is also important to establish paid parking ramps and completely prohibit on-street parking in congetsed streets.

LAST QUESTION: DOES ANYBODY CARE????

Wake up and smell the coffee!http://sahyadri.aidindia.org/ Volunteer today for a better India tomorrow.

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Indy I agree with you! It should mean sore! This hurts and you’re correct with the assumption that the people will fall flat to the ground once the Real estate bubble burst. It burst nearly all over the world, it will here as well. There should be better building norms and safety regulations, but it will not happen until the people really request it. It lies within the hand of the people. I hope they wake up soon and get moving in the right direction.

I feel the real estate will follow the lines of American housing markets,already things have started to brittle,prices have really crossed beyond one's imagination.There will be reversal to this in the near future.

If the US recession problems continue then it will certainly have an impact on the Indian real estate prices. I will wait and watch how the prices go by the end of this year before I buy! Even if the prices fall, it could be up to 20% only, not like US.

There should be a law against this kind of practices, the real estate industry is already facing tough times, the last thing we want is people interested in interfering with the normal course of the market creating artificial demand and over-rising the prices. I'd better think about getting a landlords insurance before anything else changes.

There has been an overall slowdown in real estate industry and various industry players have been affected. Some factors responsible for this slowdown can be increase in interest rates, slowdown in IT industry, increase in property prices, and increase in interest rates loan rates because of which many property buyers have stepped out of market. But somehow this slowdown can bring happiness to those middle class buyers who have been eagerly waiting for the property prices to come down. In major cities such as Delhi, Mumbai, Bangalore, Chennai and Hyderabad real estate market has come down. Also because of increase in cost of raw materials like steel, iron and building material builders are facing difficulty of constructing property at agreed prices...

Vizag is home to manufacturing facilities of large public sector undertakings like Hindustan Shipyards, Hindustan Petroleum, Hindustan Zinc, Bharat Heavy Plate and Vessels, Coromandel Fertilizers, and India’s first port-based steel plant, the Rashtriya Ispat Nigam. The city plays a vital role in the economy of Andhra Pradesh, Hyderabad. So investing in Vizag real estate always pays you off in a greater way.

Paulo wrote:There has been an overall slowdown in real estate industry and various industry players have been affected. Some factors responsible for this slowdown can be increase in interest rates, slowdown in IT industry, increase in property prices, and increase in interest rates loan rates because of which many property buyers have stepped out of market. But somehow this slowdown can bring happiness to those middle class buyers who have been eagerly waiting for the property prices to come down. In major cities such as Delhi, Mumbai, Bangalore, Chennai and Hyderabad real estate market has come down. Also because of increase in cost of raw materials like steel, iron and building material builders are facing difficulty of constructing property at agreed prices...

I know I'm on here late, but I found this discussion to be pretty interesting. Thought I'd add my two cents.

Anyway, I think the overall WORLD economy is faltering and that's the cause for this downturn in real estate sales, foreclosures and so on. While I'm upset that many real estate companies, realtors and property owners make large profits despite economic downturns, there are still those honest companies and realtors who are struggling. . . . because of their honesty and fairness. Some real estate companies have no choice but to raise the price of real estate. The same can be said for governments that raise property taxes. If you've heard of the phrase "you got to spend money to make money", you'll understand why real estate costs soar. I'm just hoping that the soaring costs are actually DUE to a real estate company's struggling and NOT their greed. You never seem to know! Nowadays, it's actually considered a risk to buy property. . . and this is coming from someone who eventually WANTS to start up their own business. Let's hope that things get better soon! =(

Paulo wrote:There has been an overall slowdown in real estate industry and various industry players have been affected. Some factors responsible for this slowdown can be increase in interest rates, slowdown in IT industry, increase in property prices, and increase in interest rates loan rates because of which many property buyers have stepped out of market. But somehow this slowdown can bring happiness to those middle class buyers who have been eagerly waiting for the property prices to come down. In major cities such as Delhi, Mumbai, Bangalore, Chennai and Hyderabad real estate market has come down. Also because of increase in cost of raw materials like steel, iron and building material builders are facing difficulty of constructing property at agreed prices...

I know I'm on here late, but I found this discussion to be pretty interesting. Thought I'd add my two cents.

Anyway, I think the overall WORLD economy is faltering and that's the cause for this downturn in real estate sales, foreclosures and so on. While I'm upset that many real estate companies, realtors and property owners make large profits despite economic downturns, there are still those honest companies and realtors who are struggling. . . . because of their honesty and fairness. Some real estate companies have no choice but to raise the price of real estate. The same can be said for governments that raise property taxes. If you've heard of the phrase "you got to spend money to make money", you'll understand why real estate costs soar. I'm just hoping that the soaring costs are actually DUE to a real estate company's struggling and NOT their greed. You never seem to know! Nowadays, it's actually considered a risk to buy property... and this is coming from someone who eventually WANTS to start up their own business. Let's hope that things get better soon! =(